Berkshire Asset Management LLC PA Sells 44,528 Shares of JPMorgan Chase & Co. $JPM

Berkshire Asset Management LLC PA trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.1% in the first quarter, HoldingsChannel.com reports. The firm owned 357,673 shares of the financial services provider’s stock after selling 44,528 shares during the quarter. JPMorgan Chase & Co. comprises approximately 4.2% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its biggest holding. Berkshire Asset Management LLC PA’s holdings in JPMorgan Chase & Co. were worth $90,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC grew its holdings in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $471,000. Crown Wealth Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Morse Asset Management Inc lifted its stake in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after buying an additional 112 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.5%

Shares of JPMorgan Chase & Co. stock opened at $292.1840 on Thursday. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The company has a market cap of $803.43 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average price of $287.83 and a 200 day moving average price of $264.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.12 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on JPM shares. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price on the stock. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $288.68.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.